Week Six: August 15th, 2011
MAST Test: no class notes.
Week Seven: August 22nd, 2011
Team wine presentations. See Wine Presentations
Week Eight: August 29th, 2011
As an owner, if you're working in your business, you need to pay yourself a salary, so that the numbers aren't skewed later on.
Fixed Costs (Change over time)
Manager's salary
Rent
Utilities
Insurance
Pest Control
Subscriptions
Licensing
Debt
Variable Costs (Change with sales)
Food
Beverage
Hourly Labor
Linens
Paper
Chemicals
Revenues
Traffic (covers)
Average amount a person spends (average sales)
Contribution Margin
Money earned which is first used to pay things like fixed costs. After fixed costs are paid, that money becomes profit.
Break Even=Fixed costs/Contribution Margin
Fixed Costs (Change over time)
Manager's salary
Rent
Utilities
Insurance
Pest Control
Subscriptions
Licensing
Debt
Variable Costs (Change with sales)
Food
Beverage
Hourly Labor
Linens
Paper
Chemicals
Revenues
Traffic (covers)
Average amount a person spends (average sales)
Contribution Margin
Money earned which is first used to pay things like fixed costs. After fixed costs are paid, that money becomes profit.
Break Even=Fixed costs/Contribution Margin
Week Nine: September 5th, 2011
Labor Day: No Class